Daily filing brief

Persistent Nagarro Stake Increase, Sun Pharma Organon Acquisition and 8 More Updates — 22 September 2026

By Daily BrieferPublished Updated

Persistent Systems increased its Nagarro stake to 83.25%, while Sun Pharma announced an Organon acquisition. Our 22 September 2026 edition brings together 10 important BSE and NSE announcements, including Rama Steel Tubes’ preferential issues.

  1. Persistent Systems Ltd

    Persistent increases Nagarro stake to 83.25%, extends acceptance period, plans delisting

    Press Release / Media Release

    Deal update

    • Tendered 7,568,145 Nagarro shares, ~61.15% of outstanding capital and voting rights, by Sept 17, 2026.
    • Aggregate stake reaches 83.25% (excluding treasury shares) as of Sept 17, 2026.
    • Additional acceptance period from Sept 23 to Oct 6, 2026; cash offer remains EUR 81.00 per share.
    • Delisting of Nagarro from Frankfurt Prime Standard planned; closing expected by end of Q1 CY27.
    • Details available at www.galaxy-offer.com.
    View source

  2. Sun Pharmaceutical Industries Ltd

    Sun Pharma FY26 revenue Rs 582,201 mn; EBITDA 177,314 mn; announces Organon acquisition

    Investor Presentation

    Business Overview

    • Global specialty generic company with Innovative Medicines and Generics segments.
    • Operations in 100+ countries; 40 manufacturing facilities; 47,000+ employees.
    • FY26 Innovative Medicines sales led by Ilumya; 29 marketed medicines.
    • Organon acquisition announced to expand global scale and Women's Health portfolio.

    Key Operational Highlights

    • FY26 consolidated Sales 582,201 Rs mn; EBITDA 177,314 Rs mn; Net Profit 114,794 Rs mn.
    • US Formulations FY26 sales: 168,242 Rs mn.
    • India FY26 sales: 192,904 Rs mn.
    • EM FY26 sales: 111,865 Rs mn.
    • ROW FY26 sales: 85,684 Rs mn.
    • US milestones: launched Leqselvi and Unloxcyt in FY26.
    • Global manufacturing footprint across multiple dosage forms.

    Financial Performance

    • Gross Margin FY26: 80.2%.
    • EBITDA Margin FY26: 30.3%.
    • Net Margin FY26: 19.6%.
    • ROCE FY26: 20.7%.
    • ROE FY26: 15.7%.
    • R&D spend as % of net sales: 6.1%.
    • R&D expenditure: Rs 35,540 mn.
    • EPS (Diluted) FY26: INR 47.8.
    • EPS (Diluted) Adjusted FY26: INR 51.7.
    • Sales growth YoY FY26: 11%.

    Capital Structure & Liquidity

    • Shareholders Funds as of Mar-26: Rs 835,701 mn.
    • Cash & Bank Balances: Rs 116,031 mn.
    • Investments: Rs 247,225 mn.
    • Net Fixed Assets: Rs 260,409 mn.

    Strategic Priorities & Outlook

    • Target mid to high single-digit consolidated topline growth for FY26.
    • Invest to build Innovative Medicines pipeline and pursue in-licensing.
    • Organon acquisition to enhance global scale and Women's Health portfolio.
    • Focus on sustainable growth and improving return ratios.

    Governance & Leadership

    • Board comprises 5 independent directors on a 9-member board.
    • Lead Independent Director: Dr. Pawan Goenka.
    • Board independence: 50% independent directors.
    View source

  3. Rama Steel Tubes Limited

    Rama Steel Tubes approves higher authorised capital, large preferential equity issuances and warrants

    Issue of Securities

    Capital structure changes

    • Authorised share capital raised from Rs 200 crore to Rs 250 crore.
    • Capital clause amended to read 250 crore equity shares of Rs 1 each.

    Equity preferential issues

    • Up to 28,00,00,000 equity shares at Rs 5 each (Rs 140 crore) to promoter group and non-promoter.
    • Up to 33,28,00,000 equity shares at Rs 5 each (Rs 166.40 crore) to non-promoters via share swap.
    • Cash consideration for promoter/non-promoter; share-swap for Automech acquisition.

    Convertible warrants

    • Up to 8,00,00,000 convertible warrants at Rs 5 each (Rs 40 crore) to promoter category.
    • Warrants convert into one equity share; exercise within 18 months; Rs 4 premium.

    Automech acquisition amendments

    • Amendments to SPA dated 11 Dec 2025; completion extended to 15 Dec 2026.
    • Joint acquisition of 100% Automech Group for AED 296 million.

    Promoter shareholding impact

    • Pre-issue promoter stake: Bansal 17.10%; others largely nil.
    • Post-issue (full warrant conversion): Bansal 18.88%; Anilpant Duke 5.15%; Payal Duke 3.44%; Jagjit Gouri 14.29%.

    Board approvals / next steps

    • Board approved above matters and will convene an Extraordinary General Meeting.
    View source

  4. Engineers India Limited

    EIL to execute Dangote Kenya refinery project as PMC and EPCM; contract value over US$450 million

    Press Release / Media Release

    Project and contract details

    • EIL to serve as PMC and EPCM for Dangote's 700,000 BPD Kenyan refinery.
    • Contract value is in excess of US$ 450 million.
    • Project expands Dangote's East Africa footprint with a 700,000 BPD facility.
    • EIL has prior Dangote experience as PMC/EPCM for Lekki refinery expansion.
    View source

  5. Sterling and Wilson Renewable Energy Ltd

    SWREL secures INR 985 crore in orders: 534.3 MWp Rajasthan and 616 MWh South Africa BESS

    Press Release / Media Release

    Order wins and value

    • Domestic Rajasthan order: 534.3 MWp from a new customer.
    • International South Africa order: two BESS projects totaling 616 MWh.
    • Total value of orders, including taxes, exceeds INR 985 crore.
    • Rajasthan order includes BOS package; South Africa order is BESS turnkey EPC wrap.
    • Rajasthan emissions reductions estimated at 0.80 million tonnes on commissioning.
    View source

  6. Puravankara Ltd

    Puravankara enters Delhi-NCR with 13.44-acre Greater Noida land parcel and Rs 5,200 crore GDV

    Press Release / Media Release

    Key developments

    • 44-acre land parcel allotted in Greater Noida via subsidiary Prudential Housing and Infrastructure Development Limited.
    • Parcel offers saleable area of ~4.57 million sq ft; GDV ~ Rs 5,200 crore.
    • First entry into Delhi-NCR; largest land transaction for FY27 to date.
    • FY27 pipeline across NCR, Mumbai, Bengaluru totals 10.74 million sq ft and Rs 14,100 crore GDV.
    View source

  7. Embassy Developments Ltd

    Embassy Developments Signs MoU to Sell Entire Embassy Terazza Tower in Juhu for ₹711 crore

    Press Release / Media Release

    Deal details

    • MoU signed with Dinesh Thakkar for sale of the entire Embassy Terazza tower at Juhu for ₹711 crore.
    • The deal is described as India's largest single residential unit transaction.
    • Tower has a RERA carpet area of 63,000 sq ft and GDV in excess of ₹3,000 crore.
    • Project is developed under a development management model, adding to Embassy Developments' Mumbai footprint.
    View source

  8. Solex Energy Ltd

    Solex Energy outlines growth plan to FY28 with ₹4,500 crore revenue target and ₹4,000 crore capex

    Press Release / Media Release

    FY26 performance

    • Revenue ₹16,211 million, up 143.9% YoY.
    • EBITDA ₹1,867 million; PAT ₹983 million.
    • Order visibility exceeding ₹34,000 million.

    Growth plan and capacity

    • Investment programme of ₹4,000 crore FY27–FY30.
    • 2 GW solar cell capacity by FY28; 5.2 GW by FY29.
    • First 5 GWh BESS phase by FY29; 10 GWh total by FY29.
    • Revenue potential > ₹4,500 crore by FY28.

    Strategic expansion

    • Expanding international footprint via Solex Europe and Solex USA.

    Governance / AGM

    • 12th AGM held; roadmap for next growth phase outlined.
    View source

  9. Tempsens Instruments (India) Ltd

    Tempsens Instruments Q1 FY27: revenue up ~30%, exports ~80%, capex expansion underway

    Earnings Call Transcript

    Financial Performance

    • Q1 FY27 revenue up about 30%; exports ~80% of revenue.
    • EBITDA INR26.6 cr; margin 22%; gross margin 47.4%.
    • PAT INR16.3 cr; up 15.6%; Adjusted PAT INR17.3 cr, +15%.
    • Inventory ~INR110-120 cr; 65-70% raw materials; pass-through pricing.
    • IPO INR95 cr; INR55 cr used to repay borrowings; March 2026 borrowings INR78 cr.
    • FY26 cross-sale across three verticals INR267 cr (60% of revenue).
    • Temperature Sensing INR60 cr; Heating INR25 cr; Cables INR32.5 cr; Domestic INR78 cr; Export INR39.8 cr.

    Segment Update

    • Temperature Sensing revenue INR60 cr; 51% of total product revenue.
    • Electrical Heating revenue INR25 cr; up 148.8%.
    • Specialized Cables revenue INR32.5 cr; down 8.8%.
    • Domestic revenue INR78 cr; Export revenue INR39.8 cr; exports 34% of revenue.
    • Top customers contribute 19% of FY26 revenue; top 20 customers >10 years.
    • Manufacturing footprint: 15 plants; 83 R&D engineers; UL/ATEX/ASME U Stamp.

    Projects and Capex

    • Brownfield OEM contact-sensors plant: 50,000 sq ft; commissioning by Q3 FY28; peak INR120 cr.
    • Mid-voltage heaters up to 15 MW; explosion-proof cert by Q4 FY27; Unit 6 50k sq ft; peak INR200 cr.
    • Unit 8 greenfield cables; completion by Q2 FY28; peak INR60 cr.
    • Victura JV facility: 80,000 sq ft; production by Q4 FY27; peak INR120 cr.
    • Aggregate: 4 projects; Q4 FY27 to Q3 FY28; peak INR500 cr at full utilization.

    Outlook and Guidance

    • Revenue growth in line with blended growth over last 3 years.
    • Margin to remain broadly similar to last year margin profile.
    • Margin recovery expected in next half year (H2 FY27).
    • New capacity online from Q1 FY28; full utilization by FY29.

    Q&A Highlights

    • New segments: margin broadly similar to core; partnerships case-by-case.
    • OEMs to drive growth; expansion into Mexico, Poland, South Korea.
    • EDGE pyrometers and mid-voltage heaters; JV with Victura expands addressable markets.
    • Order-book visibility: OEM customers 9–12 months; heavy-industry 4–4.5 months.
    • Replacement business ~30% of total; projects drive acquisition and aftermarket demand.
    View source

  10. Hikal Limited

    Hikal Begins Commercial Production at Panoli cGMP Facility, Entering Personal Care

    Press Release / Media Release

    Commercialization & Facility

    • New cGMP multipurpose Panoli facility commissioned for personal care production.
    • First production batches completed; samples validated; positive customer feedback.
    • Initial focus on skin care with second-generation UV filters.

    Strategic & Portfolio

    • Repurposed Panoli asset to meet growing personal care demand.
    • Portfolio includes second-gen UV filters aligned with evolving regulation.

    Sustainability & Recognition

    • EcoVadis Gold Medal: 84/100 score; top 5% globally; 97th percentile.

    Operations & Growth Initiatives

    • New cGMP pilot plant at Pune R&T campus enhances process development.
    • Broader strategy to build high-value growth platforms alongside core businesses.
    View source